While you’re sitting around getting poorer, you probably have to watch what you spend on entertainment, so I decided to give you these graphs to kick around for a while.
Distribution of Net Worth (by population segments)
The bottom 40% of the population controls .2% of the wealth, while the top 1% controls 38.1% of the nations wealth. I’d be willing to wager a bet that the bottom 40% that only controls a fraction of a percent of that wealth are by and large the ones responsible for working and slaving and earning that wealth that the top 1% controls.
Change in Average Household Net Worth by Wealth Class
While the bottom 40% of the population has managed to somehow lose over 75% of the wealth it once had, you can look to the right to the top 1% and see where it all went.
Share of Total Ownership of Stocks, Mutual Funds, and Retirement Accounts, 1998
While most of us will probably have to work until we die, the top 1% have plenty of stocks and bonds and retirement plans to supplement their lavish lifestyles.
Capitalism in action, it brings a tear to my eye.